28 January 2011
Report of the Utilization of Increased Capital
Ref. FNA 54/003
28 January 2011
Subject: Report of the Utilization of Increased Capital
To : The President
The Stock Exchange of Thailand
Referring to the increased capital of Symphony Communication Public Company
Limited (SYMC) by offering of new three million shares to employees (ESOP) on 19
October 2010 at 3.50 Baht each, amounted Baht 10.50 million; and the initial
public offering (IPO) of 72 million shares during 17-19 November 2010 at 8.80
Baht each, amounted Baht 614.59 million net of offering expenses, the total
proceeds is Baht 625.09 million.
SYMC would like to report the utilization of increased capital that, as of 31
December 2010, SYMC have invested in improvement and expansion of service
networks amounted Baht 22.98 million. SYMC has expanded the service network and
commercially launched in 10 industrial estates, for example; Rojana Industrial
Estate, Hi-tech Industrial Estate, Bang Pa-in Industrial Estate etc.
Furthermore, SYMC has repaid the loan from a financial institution in the amount
of Baht 15 million, as a result, SYMC is now a debt-free company. The proceeds
from increased capital strengthen SYMC's financial position, and enhance its
capacity to expand service network to high potential areas. Nevertheless, SYMC
will prudently invest in order to achieve sustainable growth.
As of 31 December 2010, cash and cash equivalents and short-term investment of
SYMC are Baht 651.54 million approximately.
Please be informed accordingly.
Yours faithfully,
Bussakorn Jaruwachirathanakul
Deputy Managing Director
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